MIRA
INFORM REPORT
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Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
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Name : |
guangdong
ivl pet polymer co., ltd. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.12.2010 |
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Com. Reg. No.: |
440700400035104 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing, processing, wholesaling, retailing,
importing and exporting polyester resin, polymer, yarn, fiber, and fiber
intermediates |
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No. of Employees : |
260 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
guangdong ivl pet polymer co., ltd.
no. 1
meihua road, shuikou town, kaiping city
jiangmen,
guangdong province 529325 PR CHINA
TEL: 86 (0)
750-2209663/2209782
FAX: 86
(0) 750-2208992
EXECUTIVE SUMMARY
Date of Registration : december 10, 2010
REGISTRATION NO. : 440700400035104
LEGAL FORM :
Wholly foreign-owned enterprise
REGISTERED CAPITAL :
usd 31,000,000
staff : 260
BUSINESS CATEGORY :
manufacturing
Revenue : n/a (AS OF DEC. 31, 2011)
EQUITIES : n/a (AS OF
DEC. 31, 2011)
PAYMENT : AVERAGE
Recommended Credit Limit: small
amount
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = USD
Adopted abbreviations (as
follows)
SC -
Subject Company (the company inquired by you)
N/A – Not
available
CNY –
China Yuan Ren Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC
in respect of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a wholly foreign-owned enterprise of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
440700400035104 on December 10, 2010.
SC’s Organization Code Certificate
No.: 56661222-5
SC’s registered capital: usd 31,000,000
SC’s paid-in capital: usd 31,000,000
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Indorama Polymers Public
Company Limited (Thailand) |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman,
and General Manager |
Dilip Kumar Daruka |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name % of
Shareholding
Indorama Polymers Public Company
Limited (Thailand) 100
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Indorama Polymers Public Company
Limited is a Thailand-based company engaged in the manufacture and distribution
of polyethylene terephthalate (PET) polymers, PET performs and PET bottles.
Together with its subsidiaries, the Company produces 958,000 tons per year of
PET polymers. Its PET polymers are used in the manufacture of packaging
materials for carbonated soft drinks, water, energy drinks, iced tea, juices
and other beverages.
MANAGEMENT
Dilip Kumar Daruka, Legal Representative, Chairman, and General Manager
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Ø
Gender: M
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Qualification: University
Ø
Working experience (s):
At present, working in SC as legal
representative, chairman, and general manager
BUSINESS
OPERATION
SC’s registered business scope
includes manufacturing, processing, wholesaling, retailing, importing
and exporting polyester resin, polymer, yarn, fiber, and fiber intermediates
(including PTA, MEG and additives) for packaging materials, textile materials
and engineering plastics, and providing related assorted services.
SC is
mainly engaged in manufacturing and selling polyester resin and polymer.
SC’s
products mainly include: semi-dull polyester melt, semi-dull polyester chips
and high-viscosity polyester chips, etc.
SC sources its materials 100%
from domestic market. SC sells 80% of its products in domestic market, mainly
Guangdong, etc., and 20% to overseas market.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
*Major Customer:
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Guangdong
Kaiping Chunhui Co., Ltd.
Staff & Office:
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SC is
known to have approx. 260
staff at present.
SC
rents an area as its operating office & factory of approx. 136,782 sq.
meters at the heading address.
RELATED COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( )
Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits
and ability to pay. It is based on the 3
weighed factors: Trade payment experience (through current enquiry with SC's
suppliers), our delinquent payment and our debt collection record concerning
SC.
Trade payment experience: SC
did not provide any name of trade/service suppliers and we have no other
sources to conduct the enquiry at present.
Delinquent payment record: None
in our database.
Debt collection record: No
overdue amount owed by SC was placed to us for collection within the last 6 years.
BANKING
The
bank information of SC is not filed in local SAIC.
FINANCIALS
Established at the end of 2010, SC started its normal
business in 2011, so the financials are not field in local SAIC.
CONCLUSIONS
SC is considered medium-sized in its line with short
business history. Credit dealings with SC should be confined into small amount
at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.89 |
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1 |
Rs.83.18 |
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Euro |
1 |
Rs.68.06 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.